Fintel reports that on September 13, 2023, JP Morgan upgraded their outlook for Immunogen (NASDAQ:IMGN) from Neutral to Overweight.

Analyst Price Forecast Suggests 52.73% Upside

As of August 30, 2023, the average one-year price target for Immunogen is 24.25. The forecasts range from a low of 13.13 to a high of $28.35. The average price target represents an increase of 52.73% from its latest reported closing price of 15.88.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Immunogen is 158MM, a decrease of 16.91%. The projected annual non-GAAP EPS is -0.87.

What is the Fund Sentiment?

There are 513 funds or institutions reporting positions in Immunogen. This is an increase of 119 owner(s) or 30.20% in the last quarter. Average portfolio weight of all funds dedicated to IMGN is 0.30%, an increase of 280.31%. Total shares owned by institutions increased in the last three months by 5.86% to 249,062K shares. The put/call ratio of IMGN is 0.43, indicating a bullish outlook.

What are Other Shareholders Doing?

Redmile Group holds 17,730K shares representing 7.12% ownership of the company. In it’s prior filing, the firm reported owning 8,046K shares, representing an increase of 54.62%. The firm increased its portfolio allocation in IMGN by 857.84% over the last quarter.

Janus Henderson Group holds 15,500K shares representing 6.23% ownership of the company. In it’s prior filing, the firm reported owning 16,450K shares, representing a decrease of 6.13%. The firm increased its portfolio allocation in IMGN by 330.88% over the last quarter.

Wellington Management Group Llp holds 9,753K shares representing 3.92% ownership of the company. In it’s prior filing, the firm reported owning 9,865K shares, representing a decrease of 1.15%. The firm increased its portfolio allocation in IMGN by 363.62% over the last quarter.

Point72 Asset Management holds 8,712K shares representing 3.50% ownership of the company. In it’s prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 8,079K shares representing 3.25% ownership of the company. In it’s prior filing, the firm reported owning 6,847K shares, representing an increase of 15.25%. The firm increased its portfolio allocation in IMGN by 434.98% over the last quarter.

Immunogen Background Information
(This description is provided by the company.)

ImmunoGen is developing the next generation of antibody-drug conjugates to improve outcomes for cancer patients. By generating targeted therapies with enhanced anti-tumor activity and favorable tolerability profiles, the company aims to disrupt the progression of cancer and offer its patients more good days.

This article originally appeared on Fintel

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